Title
Dept/ Agency: Finance
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Purpose: Foreclosure of 824 properties
List of Property:
(Address/Block/Lot/Ward)
See attached Exhibit A--2015 Tax Foreclosure List
Additional Information:
body
WHEREAS, the City of Newark is currently holding tax sale certificates relating to 824 properties that represent the 2015 Tax Foreclosure List (Exhibit A); and
WHEREAS, in accordance with the In-Rem Tax Foreclosure Act (1948), N.J.S.A. 54:5-104.29, et seq., and the laws amendatory and supplementary thereto for the eligible tax sale certificates, the City of Newark wishes to commence with In-Rem Foreclosure proceedings.
NOW THEREFORE, BE IT RESOLVED BY THE MUNICIPAL COUNCIL OF THE CITY OF NEWARK, NEW JERSEY, THAT:
1. It is hereby declared that the City of Newark shall commence with In-Rem Foreclosure proceedings, in accordance with the In-Rem Tax Foreclosure Act (1948), N.J.S.A. 54:5-104.29, et seq., and the laws amendatory and supplementary thereto for the eligible tax sale certificates held by it and the relating property, as listed on the 2015 Tax Foreclosure List (Exhibit A) appended hereto and made a part hereof. In the event that there are federal liens on the property, the City may foreclose in personam with a sheriff's to remove any federal liens.
2. It is hereby declared that the Tax Collector shall perform all work necessary to allow the City to foreclose the Tax Sale Certificates for the 824 properties, identified on the 2015 Tax Foreclosure List (Exhibit A) and certified to by the Tax Collector and the redeeming party shall pay not only the statutory amount to redeem but also all allowable taxed costs.
3. The Amount to Redeem does not include the 2015 4th quarter billing, and the interest is calculated to December 31, 2015. Therefore, upon redemption the amounts will be adjusted accordingly.
4. It is further determined that the Corporation Counsel, wit...
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